VAALCO Energy (NYSE:EGY) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

VAALCO Energy (NYSE:EGY) released its quarterly earnings results on Monday. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.04), Zacks reports. The business had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.79%. During the same period in the previous year, the business posted $0.07 EPS.

VAALCO Energy Trading Down 1.3 %

Shares of EGY traded down $0.07 during trading hours on Wednesday, hitting $5.36. 575,359 shares of the stock were exchanged, compared to its average volume of 980,768. VAALCO Energy has a fifty-two week low of $4.01 and a fifty-two week high of $7.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.19 and a quick ratio of 1.15. The business has a 50-day moving average of $5.75 and a 200-day moving average of $6.17. The firm has a market capitalization of $556.05 million, a P/E ratio of 6.19 and a beta of 1.19.

VAALCO Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of VAALCO Energy from a “buy” rating to a “hold” rating in a research note on Tuesday.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.